Higher in consolidation from the 1.0650 congestion and regaining the 1.0700 level see room for retest of the 1.0750 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.0885 | * | 9 Apr high | S1 | 1.0650 | * | 1 May low | |
R3 | 1.0850 | * | congestion | S2 | 1.0600 | ** | 16 Apr YTD low | |
R2 | 1.0800 | * | congestion | S3 | 1.0565 | * | congestion, 2 Nov low | |
R1 | 1.0750 | congestion | S4 | 1.0500 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - Higher in consolidation from the 1.0650 congestion and regaining the 1.0700 level see room for retest of the 1.0750 high. Positive daily studies suggest scope for break here to extend gains from the 1.0600 April low to retrace the March/April losses and see scope to the 1.0800 congestion. Gains beyond this, if seen, will open up the 1.0850/1.0885 congestion and April high to retest. Meanwhile, support at the 1.0650 low now underpin and break here needed to open up the 1.0600 low to retest and further extend losses from the December high.